Pakistan exports surge ahead at a robust pace
KARACHI: Pakistan’s exports showed continued strength as is evident from the latest trade data available.
According to the latest figures provided by Trade Development Authority of Pakistan (TDAP), exports from Pakistan during November, 2010 were $1,776 million, which is 17.04 per cent higher than that of November, 2009.
The cumulative exports for the period July-November, 2010 totaled $ 8,883 million, as against $ 7,533 million during the corresponding period of last year, showing an increase of 17.92 per cent.
Textile sector was the main strength behind this surge, as all its sub-sectors showed significant increase vis-a-vis November 2009, including cotton, cotton yarn, cotton cloth, knitwear, and bedwear.
Growth in export figures also saw an increase in import figures, especially in the import of raw materials.
Imports in November, 2010 were $3,125 million, being 21 per cent higher than imports in November, 2009.
For the period July-November, 2010 imports totaled $ 15,374 million as against $ 13,086 million in the same period last year, showing an increase of 17.48 per cent.
Major commodities driving import figures higher were crude petroleum and petroleum products, sugar, plastic materials, iron and steel, and synthetic a artificial yarn.
Groupwise exports of Pakistan during the month of November 2010 and its comparison with 2009 shows a rapid growth in export of petroleum group which has recorded a growth of 61.9 per cent, while export of textile and clothing group reached the level of $ 1.02 billion and recorded a growth of 19.6 per cent of the same month of last fiscal year.
Analysis of the top 10 highest export value products during the month of November show that the main drivers of this export growth for the last month were: cotton yarn, which earned nearly $ 181 million in export, showing over 54 per cent growth; knitwear, which crossed $161 million registered 9 per cent growth; cotton cloth, which is the third highest export product crossed $161 million mark, registered a growth of 29 per cent.
While other important export items like, bedwear, readymade garment, rice other varieties, petroleum top naphtha, rice basmati, raw cotton and towels, were among the top 10 export items during this month.
Similar is the case with consolidated export figures for July-November period, which was $ 8.88 billion, which is 17.9 per cent higher than same period last financial year. Knitwear and cotton cloth were the driving agents in reaching this level of export, their export value were $928 and $901 million, respectively.
Bedwear, cotton yarn, readymade and garments were the items which have crossed the $ 600 million mark during the initial 5 months of the fiscal year 2010-11.